Elastic (NYSE:ESTC) CEO Sells $1,061,880.32 in Stock

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 9,664 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $109.88, for a total transaction of $1,061,880.32. Following the completion of the sale, the chief executive officer now owns 452,297 shares in the company, valued at $49,698,394.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ashutosh Kulkarni also recently made the following trade(s):

• On Monday, June 10th, Ashutosh Kulkarni sold 18,819 shares of Elastic stock. The stock was sold at an average price of $109.90, for a total value of $2,068,208.10.

Elastic Stock Performance

Shares of NYSE ESTC opened at $113.91 on Friday. Elastic has a 12 month low of $57.38 and a 12 month high of $136.06. The stock has a 50 day moving average of $107.44 and a 200-day moving average of $110.46. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $11.59 billion, a P/E ratio of 214.92 and a beta of 0.92.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). The company had revenue of $335.00 million during the quarter, compared to analyst estimates of $329.15 million. Elastic had a net margin of 4.87% and a negative return on equity of 20.83%. As a group, equities research analysts predict that Elastic will post -1.12 EPS for the current year.

Institutional Investors Weigh In On Elastic

Hedge funds have recently bought and sold shares of the stock. Rakuten Securities Inc. bought a new position in shares of Elastic during the fourth quarter worth approximately $25,000. Covestor Ltd lifted its holdings in shares of Elastic by 168.3% during the third quarter. Covestor Ltd now owns 448 shares of the company’s stock worth $36,000 after buying an additional 281 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Elastic in the fourth quarter valued at about $39,000. Cypress Capital Management LLC WY acquired a new position in shares of Elastic in the fourth quarter valued at about $45,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Elastic in the first quarter valued at about $64,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ESTC has been the subject of several recent analyst reports. Scotiabank lowered their price target on Elastic from $154.00 to $135.00 and set a “sector outperform” rating for the company in a report on Friday, May 31st. Needham & Company LLC restated a “hold” rating on shares of Elastic in a report on Friday, May 31st. Stifel Nicolaus reduced their target price on shares of Elastic from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Bank of America dropped their price target on Elastic from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Finally, Oppenheimer upped their price objective on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.05.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.